WHEN IS THE BEST TIME TO SELL A HOUSE?
It’s a common misconception that spring and summer are always the best time to organise a house valuation.
In truth, there are more important rules of thumb to take into consideration, including your choice of real estate agent.
There have been numerous studies and statistics published on which is the best month to sell a house. February and September for example, can often have more buyer activity.
Although a sunny day and blooming garden can give properties a lift, the downside is that with so many people listing at this time, there is increased competition for buyers.
Other factors that affect the best time to sell a house are changes to lending policies, interest rates, economic developments in your area and new or amended government policies. These can all influence the buyer market and therefore, opportunities for you as a seller.
In truth, there are pros and cons to every season - keep reading to find out more.
AGENT FINDER RESEARCH REVEALS TRUE FACTORS BEHIND THE BEST TIME TO SELL A HOUSE
Agent Finder New Zealand has been tracking and monitoring real estate listings for a decade.
Our research shows that properties that ended up listed for sale a second time around were not selling because it was the ‘wrong’ time of year.
Instead, the lack of sale stemmed from things such as being ill-prepared or poor decision-making. Some homes had structural issues and needed an agent with a high level of real estate experience, legal and technical knowledge.
THE MOST IMPORTANT FACTOR IN SELLING YOUR HOUSE
The most important factor in any property sale is how you go to market, and choosing the right real estate agent is paramount.
To get top dollar, you need an agent who is competent at managing and negotiating a property sale, and one who is right for your type of property.
Doing pre-market due diligence is also key to getting your home or other property sold for the best possible price in a good time frame.
Day One on the market is the most important one in terms of attracting buyer attention, so you need to have all your ducks lined up in order to launch in the best possible position.
SEASONAL PROS AND CONS FOR THE BEST TIME OF YEAR TO SELL A HOME
- Summer is considered the best time to sell a holiday home, as holiday makers are out and about on the roads.
- Summer is also a good time to sell a lifestyle block, with drier ground underfoot and brighter greenery.
- For summer sales, take into account holiday season office hours. Law firms wind down in December and may run on skeleton staffing in January. Best to start preparing in September/October to allow time.
- Autumn and winter often have fewer houses for sale, and therefore less competition from other properties.
- Winter sun, home insulation and solar panels can be a real buyer magnet.
- Cold New Zealand winters can motivate people to up-spec to warmer, insulated homes and winter/spring is often the time when they start looking.
SELLING IN SUMMER/AUTUMN 2019
If you want to sell your house this summer, and need to get moving quickly, we can help you find the best real estate agents, request a shortlist from us today.
We vet real estate agents and provide advice about commission and fees - and it's a 100 per cent free service.
HOME STAGING: AN INEXPENSIVE WAY TO ATTRACT MORE BUYERS NO MATTER WHAT THE SEASON
Home staging is a must all year round, and can add 10-15 per cent onto the sale price (as reported by real estate agents).
It’s a relatively easy way to add value, and buyers will often pay more to get a house they have fallen for.
This can mean buyers competing against each other, putting the bargaining power on your side rather than that of a single buyer.
GOVERNMENT AND BANK POLICY CHANGES
The best time to sell a property can be dictated by Government and bank policies, and this is true whether you are an investor, or buying/selling a home. Changes in policy or rates can influence whether you choose to go to market quickly, or hold off for a while.
Here are a few examples:
NEW RENTAL PROPERTY INSULATION POLICY
By July 2019, landlords must have their properties insulated to the new Government standard. The fine for failure to comply is $4000 which will go to their tenants.
This may compel investors who can’t afford to insulate or don’t want the hassle to sell up, putting more houses on the market for the first half of this year.
You can attract investor-buyers looking for a better option by ensuring your home is well insulated before you put it on the market.
INTEREST RATE CHANGES
Interest rate reductions can stimulate buyer activity and this is a time when investors will add to their portfolios.
First home buyer activity is affected by loan to value ratios (LVR) and minimum deposit bank policies. A change in these can see your house fit into the first home buyer market, and create considerable interest from these motivated buyers.
IS THERE A BEST TIME TO SELL YOUR HOUSE?
The biggest influence isn’t time! Selling in the ‘right’ season is much less important in the long run than a number of other factors, such as:
- your choice of agent
- their performance
- your decisions
- what you do (or don't do) to prepare your home
Due diligence before going to market is essential:
- How much is your house worth to sell now?
- Do you know how to compare real estate appraisals?
- How can you judge the accuracy of a real estate valuation?
- How do you negotiate real estate commission and fees?
- Do you know what a good marketing plan looks like?
- What makes a good real estate agent, for your property type?
Need to sell your house fast? Use our free service
You don’t always get to choose when to sell up if you're on a job transfer or have purchased a house before you planned to.
It’s possible you need to sell your house fast but are concerned about the time of year and the possibility of having to settle for a lower price.
You could be thinking about renting your house so you can wait for that ‘perfect month’ down the track.
We can help you come to a decision on the best solution, as there are issues to consider either way.
For free advice about the best time sell your house, connect with us now via Live Chat.
We offer a 100% free agent finder service which has been proven to get our clients the best sale price in the optimum time. This is a safe and effective service tailored to your individual needs.
Need more real estate advice?
Most people aren’t real estate experts. Selling a house can be complex, and things can go pear shaped and lead to disappointment and financial loss.
To avoid problems like these, and to get the best possible property valuation nz-wide, talk to the team at Agent Finder. We can take the stress out and help reduce the risk to sellers..
If you need any advice, get in touch now or Free Phone 0800 789 532
Other popular pages:
- Why day one on the market is your most important day of all
- How to find the best real estate agent to sell a house
- Unique tips for selling your home
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